Tel: +61 2 9019 2800 Fax: +61 2 8214 5869 ABN: 50 103 827 836 9 November 2017 Company Announcements Office Australian Securities Exchange Limited 20 Bridge Street SYDNEY NSW 2000 3P Learning Limited - Annual General Meeting 2017 and Product Presentation Please find attached the following documents which will be presented at the Annual General Meeting of 3P Learning Limited which commences at 10.00am (Sydney time), Thursday 9 November 2017, in compliance with Listing Rule 3.13.3: 1. Copy of Chairman’s Address 2. Copy of 2017 AGM Presentation Investors are invited to take a closer look at the work we are doing to strengthen our product portfolio by joining the product presentation after the AGM. A copy of that presentation is also attached. Yours sincerely Jonathan Kenny Company Secretary and Chief Financial Officer ENDS For further information, please contact: 3P Learning Investor Relations Jonathan Kenny, Company Secretary and Chief Financial Officer E: investors@3plearning.com E: jonathan.kenny@3plearning.com 3P Learning Limited Level 18, 124 Walker Street North Sydney NSW 2060 Australia www.3plearning.com
CHAIRMAN’S ADDRESS 3P L E ARNING L IMIT ED - ANNUAL G E NE RAL ME E T ING 9 NOVE MBE R 2017 L a die s a nd Ge ntle me n a nd F e llo w sha re ho lde rs in 3P L e a rning L imite d. I t is my ple a sure to sha re with yo u the hig hlig hts o f yo ur Co mpa ny fo r the 2017 F ina nc ia l Ye a r. T his time la st ye a r a t the AGM we o utline d thre e stra te g ic prio ritie s fo r yo ur Co mpa ny: • F irstly, to stre ng the n o ur pro duc t po rtfo lio with a spe c ific fo c us o n ma ths a nd lite ra c y • Se c o ndly, to de ve lo p a sc a la b le sa le s a nd ma rke ting mo de l, whic h put simply, will e na b le po te ntia l c usto me rs to purc ha se a t the c lic k o f a b utto n ra the r tha n ha ve to sig n up with the a ssista nc e o f a sa le s re pre se nta tive • T hirdly, to g lo b a lise o ur o pe ra tio ns a nd to wo rk b y func tio n a c ro ss g e o g ra phie s, ra the r tha n duplic a te e ffo rts in e a c h ma rke t in whic h we ha ve sub sidia rie s. We a re ple a se d to re p o rt tha t we ma de g o o d pro g re ss a g a inst the se prio ritie s a nd tha t wa s re fle c te d in o ur stro ng re sults fo r F ina nc ia l Ye a r 2017. Gro up Re ve nue g re w b y 6% a nd o n a c o nsta nt c urre nc y b a sis re ve nue wa s up 11% whe n c o mpa re d to F ina nc ia l Ye a r 2016. On a c o nsta nt c urre nc y b a sis Euro pe a n re ve nue g re w b y 19% a nd in the Ame ric a s re ve nue inc re a se d b y 33%. All re g io ns sa w impro ve d : • E BI T DA, • L ic e nc e re ne wa ls, • Ave ra g e Re ve nue Pe r Use r, a nd we re duc e d the c o st to a c q uire ne w use rs. We a re ple a se d to re po rt tha t the Ame ric a s re g io n is no w pro fita b le .
E nc o ura g ing ly, we de live re d a 20% inc re a se in unde rlying c o re E BI T DA while simulta ne o usly funding ke y a re a s to suppo rt o ur stra te g ic prio ritie s suc h a s inve stme nts in ma rke ting a uto ma tio n, use r vo ic e a nd se rvic e c lo ud . T he se a re de sig ne d to impro ve re ve nue , c usto me r e xpe rie nc e a nd re te ntio n. By wa y o f e xa mple , o ur ma rke ting c lo ud we nt live la st F rida y a nd we ha ve a lre a dy ha d a n ‘ unpro mpte d’ sa le o f Ma thle tic s lic e nc e s to a n Austra lia n Hig h Sc ho o l. At the sa me time we inve ste d in o ur ‘ Stra te g ic Prio ritie s’ we re duc e d fixe d o pe ra ting c o sts. As we re po rte d a t the e nd o f o ur F irst Ha lf F ina nc ia l 2017 re sults, the stra te g ic re vie w o f I nto Sc ie nc e a nd o f o ur te c hno lo g y a sse ts re sulte d in a o ne o ff no n c a sh write do wn a fte r ta x o f $12.0M. Unde rlying NPAT wa s up 19% ye a r o ve r ye a r a nd we e nde d the 2017 F ina nc ia l Ye a r with ne t de b t o f $6.2M. T he ke y to a hig h pe rfo rma nc e o rg a nisa tio n is its c ulture a nd ta le nt. During the ye a r we pa rtne re d with the Gre at Plac e to Wo rk I nstitute to b e nc hma rk o ur c ultura l pe rfo rma nc e a g a inst the b e st c o mpa nie s inte rna tio na lly. We we re ve ry e nc o ura g e d b y o ur e mplo ye e s’ re spo nse s a nd we ha ve kic ke d o ff a se rie s o f Gre at Plac e to Wo rk initia tive s b a se d o n insig hts fro m the surve y in re la tio n to o ur stre ng ths a nd to impro ve in tho se a re a s whe re , in the e ye s o f o ur pe o ple , we ha ve fa lle n sho rt. T his ye a r ma rks the se c o nd ye a r o f the imple me nta tio n o f o ur ‘ Stra te g ic Prio ritie s.’ By sta ying fo c use d o n the se prio ritie s we e xpe c t 3P L e a rning to b e in a po sitio n to pro fita b ly sc a le g ro wth g lo b a lly a nd firmly e sta b lish its pla c e a s a le a ding pro vide r o f dig ita l e duc a tio n. We a re c o mmitte d to a no the r ye a r o f de live ring re ve nue g ro wth fa ste r tha n c o st g ro wth. We e xpe c t g ro wth to a c c e le ra te in 2019 with the la unc h o f o ur lite ra c y pro duc t Re a diwrite r, with a dditio na l Ma thle tic s mo dule s a nd with g e o g ra phic e xpa nsio n. We inte nd to impro ve re te ntio n thro ug h e nha nc e d stude nt e ng a g e me nt, dig itisa tio n, b e tte r use o f da ta a nd a na lytic s a nd a n impro ve d c usto me r e xpe rie nc e .
Co mp e titio n in the fie ld o f e duc a tio n, whilst o fte n de sc rib e d a s ‘ c o lle g ia l’ is no le ss fe ro c io us tha n in a ny o the r e nde a vo ur. And it ha s the a dde d inc e ntive o f fe rve nt c o mmitme nt to a c a use . At 3P L e a rning we a re fo rtuna te to ha ve a te a m who se pa ssio n is the e q ua l o f a ny o f o ur c o mpe tito rs a nd a pro duc t line a nd te c hno lo g y pla tfo rm tha t a re inc re a sing ly se c o nd to no ne . Whe the r the y a re lo c a te d in a ny o f o ur o ffic e s a ro und the wo rld, o r a re pa rt o f o ne o f o ur g lo b a l func tio ns, the te a m me mb e rs o f yo ur Co mpa ny ha ve a pro dig io us e nthusia sm fo r the wo rk tha t the y do , a nd e spe c ia lly to he lp sc ho o ls a nd te a c he rs a nd p a re nts to he lp the c hildre n the y lo ve to g e t a s muc h b e ne fit fro m e duc a tio n a s po ssib le . T ha t g usto a nd drive c o me s fro m within e a c h o f o ur pe o ple , b ut it is fa ir to sa y, tha t it is nurture d a nd e nc o ura g e d a nd ha rne sse d b y a n o utsta nding ma na g e me nt te a m unde r the g uida nc e o f o ur Chie f E xe c utive , Re b e ka h O’ F la he rty. Re b e ka h is we ll into he r se c o nd ye a r o f se rvic e a t 3P L e a rning a nd he r le a de rship, ma na g e me nt skills, stra te g ic insig ht, te na c ity a nd g o o d humo ur a re re fle c te d in the sub sta ntia l pro g re ss tha t we a re ma king b o th in the de live ry o f o ur ‘ Stra te g ic Prio ritie s’ a nd in ste a dy impro ve me nt o f o ur fina nc ia l re sults. On b e ha lf o f the Bo a rd, tha nk yo u, Re b e ka h. Yo u a nd yo ur e xtra o rdina ry te a m a t 3P L e a rning ha ve o ur he a rtfe lt tha nks a nd g ra titude . We a re e q ua lly inde b te d to a ll o f the te a c he rs, pa re nts, stude nts a nd e duc a tio n a dministra to rs who pla c e the ir trust in 3P L e a rning ; tha nk yo u. F ina lly, I wo uld a lso like to e xte nd my a ppre c ia tio n to my fe llo w No n E xe c utive Dire c to rs, Cla ire Ha tto n a nd Ro g e r Amo s, who ha ve de mo nstra te d the ir c o mmitme nt a nd c o ntrib utio n to o ur Co mpa ny d uring this c ritic a l ye a r o f tra nsitio n in wa ys to o nume ro us to me ntio n. T he supp o rt we re c e ive fro m yo u, o ur sha re ho lde rs, is mo st we lc o me a nd we e xte nd a sinc e re tha nk yo u to yo u fo r pla c ing yo ur c o nfide nc e in 3P L e a rning .
2017 Annual General Meeting 9 November 2017
Samuel Weiss Chairman’s Address 2017 AGM Presentation 9 November2017 2
Rebekah O’Flaherty CEO’s Address 2017 AGM Presentation 9 November 2017 3
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